CALGARY, May 15, 2013 /CNW/ - Northern Property Real Estate Investment
Trust ("NPREIT") (NPR.UN - TSX) announced its May 2013 monthly
distribution in the amount of $0.1275 per unit, payable on June 14,
2013 to unitholders of record at May 31, 2013.
As at the date hereof, there are 31,981,970 Trust Units (NPR.UN) issued
and outstanding and 67,796 Class B exchangeable limited partnership
units issued and outstanding.
NPR is primarily a multi-family residential real estate investor,
providing a broad spectrum of rental accommodations in Canadian
secondary markets with strong economic fundamentals where
capitalization rates are somewhat higher and competition somewhat
restrained. NPR's residential portfolio is comprised of a multi-family
segment: apartments, town homes and single family rental units; and
execusuites and hotels, where the rental periods range from a few days
to several months. NPR also has a portfolio of commercial buildings
focused on government tenancies predominantly located in Canada's far
north. Geographically, NPR operates in British Columbia, the Northwest
Territories, Alberta, Saskatchewan, Nunavut, Quebec and Newfoundland
and Labrador. As at March 31, 2013 NPR has 9,743 residential units and
1,076,900 square feet of commercial space.
SOURCE: Northern Property Real Estate Investment Trust
For further information:
Mr. Robert Palmer, Chief Financial Officer, (403) 531-0720